Chainlink (LINK) is currently trading at $13.69, showing a slight 24-hour increase of 0.66%. The price has fluctuated between a daily high of $14.17 and a low of $13.42, indicating a daily range of 0.75%, which reflects relatively low volatility.

The trading volume for the past 24 hours stands at approximately $847.9 million, translating to a volume-to-market cap ratio of 8.90%. This level of trading activity suggests a moderate interest in LINK, although it has not significantly influenced the price trajectory, given the recent bearish trends.

In terms of moving averages, LINK is trading below the short-term 8 SMA ($14.04) and 13 SMA ($13.94), both indicating negative momentum at -2.47% and -1.81%, respectively. The longer-term averages such as the 55 SMA ($14.03) and 144 SMA ($14.66) also confirm a bearish outlook, with declines of -2.39% and -6.60%, respectively.

The Relative Strength Index (RSI) provides mixed signals; the 1-hour RSI at 56 indicates a neutral trend, while the 7-day RSI at 43 suggests that LINK is approaching oversold conditions. However, the substantial price drops over the past 7 days (-14.94%), 14 days (-10.40%), and 30 days (-18.67%) reflect ongoing bearish sentiment that may limit short-term recovery.

Given the current technical indicators and the recent price action, the outlook for LINK remains cautious. The negative trends in moving averages and the RSI metrics suggest that LINK is not positioned for an immediate rebound.

In conclusion, I assign a Sell rating for Chainlink (LINK) at this time. The significant downward pressure and bearish momentum indicators suggest that investors should consider exiting or avoiding new positions until a clearer reversal signal emerges.